New Jersey Senate Bill S112

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Directs certain unclaimed electric and gas utility deposits in Unclaimed Utility Deposits Trust Fund and societal charge revenues be paid to Statewide nonprofit energy assistance organizations designated by BPU.

Impact

The bill proposes to allocate $2.5 million from available balances generated through the societal benefits charge to provide grants specifically for the restoration of electric and gas public utility services or to prevent service terminations. This funding targets ratepayers seeking temporary assistance, thereby enhancing the safety net for residents at risk of losing essential utility services. Importantly, this legislative initiative underscores the state’s commitment to safeguarding public welfare, particularly among low-income households during challenging economic times.

Summary

Senate Bill S112 directs certain unclaimed property deposits from electric and gas public utilities to be allocated to Statewide nonprofit energy assistance organizations designated by the Board of Public Utilities (BPU). The bill aims to ensure that unclaimed utility deposits can be utilized effectively to support individuals in need of assistance with utility expenses. By directing funds from the Unclaimed Utility Deposits Trust Fund toward these nonprofit organizations, the bill seeks to enhance utility service accessibility for vulnerable populations.

Contention

Notably, the bill requires the BPU to issue a comprehensive report within 18 months of its enactment, evaluating the effectiveness and reach of utility assistance programs funded through these mechanisms. This report will include detailed assessments of the funds used, the average assistance provided to households, and any gaps in service or outreach that applicants experienced. The requirement for such a report reflects accountability, aiming to maximize the efficiency and availability of assistance programs. However, the potential for the bill to introduce complexities in program management and funding allocation may face scrutiny from stakeholders advocating for streamlined processes.